Bookkeeping – It is very important that as your company transacts its business, that detailed and precise records are maintained.  This is not only for compliance purposes with governmental entities but for critical decision making for the organization.  BRFG will develop your financial chart of accounts and also record said transactions (invoicing, expenditures, post-closings, etc.) in your accounting system.  At month end, we will perform all your reconciliations and adjustments and post them to your general ledger.

Financial Statement Compilation – This process starts with the information that is recorded above.  From these inputs, BRFG will create your monthly financials that consist of your Balance Sheet, Income Statement, Expense Details, Cash Flow Report and Analysis Report.  All of these statements will be prepared according to Generally Accepted Accounting Principles.  On a monthly basis, a member of the Black Rhino team will meet with the client to discuss the results we analyze from these reports.  These meetings will be used to discuss trends, make adjustments to operations as well as make other strategic decisions for the organization.

Operational Reports – Although these reports are financial in nature, we separate them out from the financial reports because of their utility in your company.  The first report is what we call the Operating Budget.  We will sit down with the client and examine all the revenue verticals and expenditure line items that drive operations.  We will then create a six to twelve-month budget where we will analyze variances by month, by year to date and compared to last year at that point in time.  From there, we will advise the organization where it should make changes.  The second report is the Predictive Cash Flow Report.  This report is different from the regular cash flow report (a historical report) in that it seeks to predict how cash will be generated and then subsequently spent.  The advantage is that the client is no longer making decisions after the fact but predicting (along with BRFG) cash operations out for a 90-day period.  If things do not happen according to predictions, it allows the client to be proactive and nimble in making the necessary adjustments before cash is negatively impacted. Both of these reports will be reviewed monthly with the client.

Payroll Processing – As part of our accounting offering, BRFG will administer the client’s payroll processing.  It will be our responsibility to obtain the work hours from the client and then subsequently report them in our payroll system.  We will need to obtain the W-4 information from the client as well as all the pertinent data on the employees.  BRFG will then process the payroll according to the calendar provided by the client.  BRFG will also make the cash deposits on behalf of the client, prepare and file the quarterly/yearly tax return and provide the W-2’s at year end.  And yes, we can administer direct deposit on behalf of our clients.

Strategic Consulting – Although this offering often leads to the client needing our services in other areas, at a global level, the BRFG team will work with our clients in the areas of forming their business (incorporation/organizations), consulting in the area of risk management (i.e. providing guidance in contractual matters), assisting in the operational constructs and developing M&A strategies and designing capital generation modeling to help our clients raise funding.

Taxation – The last area of our offering centers around taxation.  The “crash” of Rhinos in our firm love helping our clients mitigate their tax burden.  As part of our offering, BRFG will prepare and file the taxes for our clients.  These taxes include payroll taxes (as mentioned previously), sales taxes, estate taxes, corporate taxes and personal taxes (of the owners of the business).